New York, United States , Nov. 29, 2022 (GLOBE NEWSWIRE) -- The Global Milk Powder Market Size was reached a value of US$ 30 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 65.3 Billion by 2030. The milk powder market growth is predicted to expand at a growth rate of 7.33% from 2021 to 2030. The rise of the milk powder market will be significantly influenced by the growth of the urban population.
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The process of dehydrating liquefied milk through various drying procedures until it becomes a powder yields the dairy product milk powder, which is manufactured in factories. Simply mixing water with the milk powder makes it easy to consume while travelling. The goal of making milk powder is to increase milk's shelf life without using a refrigerator. They include several types of milk powder, such as whole milk powder, skim milk powder, dairy whitener, and others.
For both in-home and out-of-home use, customers substitute milk powder for fresh milk. Applications include quick milk powders, which are widely used in a variety of beverage combinations and readily dissolve in water. Additionally, fortified milk powders, which are milk powders that have been nutritionally improved, are provided to address the additional nutritional needs at different stages of life. Most milk powder products on the market are fortified with calcium, iron, and folate minerals.
Because milk powder has the same nutritional content as ordinary milk, it is utilised in sports nutrition items such nutrition bars and drinks. The market for milk powder has been stimulated by the rising demand for these goods, which is being driven by an increase in fitness awareness. The government of many countries has imposed strict regulations on the taxation, tariff structures, subsidies, and export/import of milk powder, which may have a negative impact on the financial security of milk powder manufacturers and restrict market expansion.
Browse key industry insights spread across 198 pages with 136 market data tables and figures & charts from the report “Global Milk Powder Market Size, Share, and COVID-19 Impact Analysis, by Type (Whole Milk Powder, Skimmed Milk Powder, Dairy Whitener, Buttermilk Powder, Fat-Filled Milk Powder, and Other Milk Powder) and by Application (Nutritional Food, Infant Formulas, Confectionaries, Backed Sweets, and others) by region (North America, Europe, Asia-Pacific, Middle East and Africa, South Africa) Analysis and Forecast 2021 – 2030”. in detail along with the table of contents.
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COVID-19 Impact on the Global Milk Powder Market
According to estimates, the COVID-19 scenario will slow market expansion. This is primarily due to the fact that less people are buying milk powders, even though milk supply is rising in the biggest markets throughout the world. The major causes are the weak demand for milk products in the foodservice and retail sectors, as well as the increase in milk powder stock accumulation brought on by the closing of public gathering areas owing to preventive measures. Furthermore, the market is anticipated to contract in the COVID-19 pandemic scenario because to major supply chain disruptions, including intense rivalry for shipping containers globally.
Global Milk Powder Market, By Type
According to the type of product, the market has been split into two segments: whole milk powder and skimmed milk powder. Whole milk powder, which is the most well-liked of them and is commonly used in the food industry.
Global Milk Powder Market, By Application
The global milk powder market was controlled by the confectionery industry in terms of utilisation. Soft candies, milk chocolate, malted milk, nougat centres, caramel confections, caramel confections, caramel confections, and various confection coatings are all made with milk powder. Infant formula, sports and nutrition foods, bread products, dry mixes, fermented milk products, meat products, and others are some more noteworthy application categories. The market for infant formulae is projected to grow rapidly over the forecast period at a CAGR of xx%.
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Global Milk Powder Market, By Function
According to function, the market has been segmented into groups for emulsification, foaming, flavouring, and thickening. Milk powder is used as an emulsifier in salad dressings, meat emulsions, soups, sauces, and baked goods as well as a thickening component in dairy drinks, yoghurts, puddings, and baked goods. Additionally, it serves as a foaming agent while making ice cream, mousse, and desserts.
Some Key Developments Offered in the Milk Powder Market Report:
Z Natural Foods claims that the availability of their brand-new organic oat milk powder won't begin until 2022. Oat milk powder is sold in air-locked, freezer-tight, reusable stand-up foil pouches and is available in 1-lb, 5-lb, and 50-lb bags. It could be stored for two years without risk.
The first useful Aloha oat and Macadamia nut powdered milk will be accessible in 2021, according to Laird Superfood Inc.
The new milk powder facility has allowed AmulFed Dairy, a division of the Gujarat Cooperative Milk Marketing Federation, to increase its daily output capacity from 35 lakh to 50 lakh litres.
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Global Milk Powder Market, By Region
As a result of lifestyle changes, Asia Pacific currently holds a monopoly on the milk powder market. Additionally, during the forecast period, globalization, an increase in the working population, and a rise in the penetration of social media and the internet would all help the region's milk powder market grow. Due to improvements in shipping and processing technology, the market for milk powder is anticipated to grow dramatically in Europe. The market for milk powder in the area is expected to grow in the next years as a result of decreased transportation costs and the use of export subsidies.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Profiles of major market players operating in Milk Powder market are Nestlé S.A., Lactalis Group, Fonterra Co-operative Group Limited, Arla Foods, Kraft Heinz Company, Saputo, Inc.,Parmalat S.p.A., Danone S.A., Dean Foods. And Others.
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